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By Ken Coates MEP
“At one level, the effects of poverty are measured in personal unhappiness: deprivation and malnutrition. Where there is runaway poverty, we can meet with famines, the mass migration of populations, and rampant disease and mortality. But widespread debt also destroys local economies, shreds political authority and feeds social chaos. That way lies ruin. Michael Barratt Brown has examined three of the approaches to ruin, none of which, unfortunately, is likely to prove unique. They are the paths taken by Yugoslavia, Peru and Rwanda-Burundi.”
